The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-03-05
REAL ESTATE BOOAIIG.
EVIDENCE THAT THE BLUFF CITY
KkEPING UP Wild
The Procession In the Onward
March OF Southern Cities
aud Towns.

Booms OF various kinds have struck
q large number Of Southern cities, and
the newspapers made haste 10 take up
and inf to them to the greatest possi-
BILE extent. Memphis has made rapid
strides toward Advancement In the
way OF population, new en-, erprises
and enhancing OF values Of real estate
and other properties, but orsidered
1t unnecessary to make any unusual
blow. As sample of the rapid up
waid tendency OF real estate, il is only
necessary to give the text OF a bill
fled in chsncery yesterday by S. II. and
L. A. Lamb against + len II and Jacob
l.. Kennedy, her husband, OF New
York, to compel defendants to abide
by contract Of sale and purchase
made on the 80 h day of December.
The compla;naDts s'ata that the con
tract was for IA so 100 acres of land
lying between Wa ker avenue, Ray
burn avenue and the Missi si ppi and
Tennessee railroad the price being
$500, of which $1,000 Was to be pa d
In cash, the r. m ainder heinR secured
by promissory notts, extending
through five years, al 6 per cent
Toe Complainants show that the
contrtt is IN writing according 10
aw, aud was aft, rward delivered by
the defendants, for good and valuable
cons { GRAFTON, to the mplainants.
| he defendants author sed complain.
ants to enter into possession Of the
land and began grading the same. X
ying on the representations and good
faith of the defendants, they did take
possession OF aud now hold the land,
aud have done q large amount OF
grading. The contract was made in
New York, but complsiDants slold
ready to prove by the law Of that
State that it Is valid and binding.
Immedia ely after the execution Of
the contract the comp ainants notified
the defendants that they were ready
to pay the $1,000 and deliver the prom
issory notes, and secure the came by
trust deed. ID PENDANTS replied that
j. l. Kennedy would be in the city in
a few days and would bring the deed,
properly signed aud acknowledged,
with him. The defendants are hus-
band and vile, AID the itle, except to
marta rights of j. L. Kennedy, Is In
Ellen Ii. Kennedy, who exeou cd the
deed in New York, procured the exc
cu',on Oh the same Dy her husband
ana deiivered II 10 MIN TO bring TO
Memphis and turn over TO complain
sn,e. He is now in the city, he's the
ueeu 10 MS poAseeslon ana mas 30 ac-
khoWledged TO complalnants frequent
y within the last twenty four hours.
NrVertheiees, ne reiu'es 10 deliver II
over TO them, although the money and
pIomissory notes nave been rendered
hlm' his reason ior REFUSAL 10 mat
inc com pIslnants VIII not agree 10 pay
more Tor the land than the written
contract calls Tor. They therefore
bring into open court the purchase
money and notes, secured by trust
deed, and tender the same to de-
iendants.
The clmplainants admit that by
reason oil the appreciation OF the value
OF real es'ate III the locality, the prop
erty 10 now wo IN more than IT was
AT 'he date OF the cont act, but they
submit that Kennedy has no right to
Wltnhoid no dellvery oil the dee1, In
sccordancs with the contract Iney
further claim thst Kennedy is about
10 return 10 new YORK ana unless re-
5'ra'nen py an oruer OF the court, VIII
40 90 wltoout dellveTlng the deed In
that chse tney would Do greatly Gam
ageu ahu whoiiy Wltnout a iemeuy
a par OF ing conditions ana con,
suerstiohs Oh tne contract was that
me ueiehoants shoulu procure ana
q IiVtr AZ the ssme !ime me de'd 10
me properly, q ueeu rom me neifs al
"a" Vi oiias /. oiloeI 10 riSnt o. way
let { .rtaln streets .hf0ugn aul hnihg
properly Men, ely also mas me cd
rom me nelIs Oh 1lloeit IN ms posses
SION, and feiu Oh 10 deliyer IL. o2m'
plslnshtS cain thas Ia Ihis case tney
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